The political event of the year will take place on November 3. Americans will choose their next president. In the next weeks, we will witness a fierce political battle that will shake the markets.
This is going to be a great time for SimpleFX traders, as our analysts expect to increase price volatility on the most popular symbols: EURUSD, SPX500, XAUUSD, and USDJPY.
To make it more fun, we introduce to you: $2000 SimpleFX US Election Trading Cup!
Each week you can win $500 in prizes just for trading one of your favorite assets. Here’s the cup timetable.
$500 EURUSD Trading Contest, from September 14 to September 20
$500 SPX500 Trading Contest, from September 28 to October 4
$500 XAUUSD Trading Contest, from October 12 to October 18
$500 USDJPY Trading Contest, from October 26 to November 1
SimpleFX users with the highest trading volume on their live accounts on EURUSD, SPX500, XAUUSD, and USDJPY during each listed trading week will receive the prize.
1st place: $150
2nd place: $90
3rd place: $60
Places 4-10: $21.43
Places 11-20: $10
Remember, only one person can take part in the contest. If you run more than one account on SimpleFX, the one with the highest trading volume on the symbol of the week will take part in the contest.
Elections that will shake the markets
Current president Donald Trump will have the Republican nomination. He will face Joe Biden representing the Democratic party.
Both the campaign and the election result will have a strong impact on the markets.
Who will win the race? So far history has shown that the sitting president has a strong advantage. Almost 75% of incumbent presidents have been re-elected. The only case the sitting president failed to win was when the recession occurred during his presidency.
In terms of stock markets, it is hard to say anything concrete about the likely impact of the election. Historically, the S&P 500 volatility has typically been higher in election years than in non-election years, as markets frequently reprice the probability of the future administration’s policies.
The same should be true for the US dollar. The political parties and American society have never been so divided, a possible change in the White House could bring a shift in domestic and international policy.
On the other hand re-election of Donald Trump could spark more protests as President Trump’s approval rating is lower than what other incumbent presidents’ ratings were when they won re-election.
Enjoy market swings in the final weeks of the US presidential election campaign, trade with SimpleFX, and win prizes. T&C may apply.